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Press Release
SK Telecom Decides to Purchase a 5% Share of KT Stock at the Government Disposal Sale
2002.05.18 PrintSK Telecom (www.sktelecom.com) held a director’s meeting in the morning of the 18th day, and decided to participate in the sale by buying 5% of KT stock (15,609,000 shares) during the Government disposal sale.
SK Telecom has been carefully investigating the advisability of participating in KT’s coming under private ownership and operation. The company announced its decision to actively participate under these considerations ? to restrain the appearance of a major stock holder due to KT privatization, and to stay on neutral ground. ? to avoid an Overhang of SK Telecom stock shares.
The company announced that participation in the KT disposal sale, will also positively effect the government policy that is trying to successfully finalize the privatization of KT. In addition, the company mentioned that SK Telecom’s ultimate target number of KT?s shares will be finalized after the stock allotment.
SK Telecom has been carefully investigating the advisability of participating in KT’s coming under private ownership and operation. The company announced its decision to actively participate under these considerations ? to restrain the appearance of a major stock holder due to KT privatization, and to stay on neutral ground. ? to avoid an Overhang of SK Telecom stock shares.
The company announced that participation in the KT disposal sale, will also positively effect the government policy that is trying to successfully finalize the privatization of KT. In addition, the company mentioned that SK Telecom’s ultimate target number of KT?s shares will be finalized after the stock allotment.